2 hrs ago
Sensex, Nifty Rise as Global Markets Rally, Crude Eases
India’s main stock markets started Tuesday higher.
The Sensex and Nifty are the two major measures of how Indian shares are performing.
Investors were encouraged by gains in global markets.
They were also watching crude oil prices and US bond yields.
A market expert said slightly cooler crude prices helped improve investor confidence.
Asian markets and US markets also finished or traded higher.
Some large companies, including HDFC Bank and Maruti, gained.
Several technology and pharmaceutical companies fell.
Investors are also watching possible talks between the United States and Iran.
Foreign investors sold Indian shares on Monday despite the market’s overall rise.
The Sensex opened 42.51 points higher at 74,901.50, while the Nifty gained 39.75 points to reach 23,454.05.
Later, the Sensex was up 115.62 points at 74,974.61 and the Nifty rose 40.50 points to 23,455.60.
HDFC Bank, Adani Ports, Eternal, InterGlobe Aviation, Maruti and Asian Paints advanced, while several technology and pharmaceutical stocks declined.
Asian markets and US equities gained, supporting positive sentiment in Indian markets.
Foreign Institutional Investors sold equities worth Rs 576.20 crore on Monday, even as the Sensex and Nifty ended higher.
- Who
- Indian stock-market investors, companies listed on the BSE and NSE, and Foreign Institutional Investors.
- What
- The Sensex and Nifty rose in early Tuesday trading, supported by global market gains and market sentiment around crude prices.
- Where
- Indian equity markets, including the BSE and NSE, with global cues from Asian, US and other international markets.
- When
- Tuesday morning; the previous trading session ended on Monday.
- Why
- Global equities rallied, crude prices and US 10-year bond yields were described as cooling, and optimism grew around possible US-Iran talks.
Key facts
- Sensex opening
- Up 42.51 points at 74,901.50
- Nifty opening
- Up 39.75 points at 23,454.05
- Later Sensex level
- Up 115.62 points at 74,974.61
- Later Nifty level
- Up 40.50 points at 23,455.60
- Brent crude
- Quoted 0.80% higher at USD 101.1 per barrel
- Foreign Institutional Investors
- Sold equities worth Rs 576.20 crore on Monday
- Previous close
- Sensex rose 564.03 points and Nifty gained 67.90 points on Monday
Quotes
V K Vijayakumar
Chief Investment Strategist at Geojit Investments Limited
“Slight cooling in crude prices and US 10-year bond yields has helped to bring risk-on sentiments in the US equity markets. This positive development will reflect in other equity markets, too.”
deccanchronicle.com
Ponmudi R
CEO of Enrich Money, an online trading and wealth-tech firm
“While Iran and the US exchanged threats of further escalation over the weekend, optimism is building around a potential meeting between US President Donald Trump and Iranian President Masoud Pezeshkian, who is expected to be in New York for the UN General Assembly this week.”
deccanchronicle.com
Sources
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